Price Looking to Test Extreme Resistance

Price in this market is now meandering higher and looking to make a new test of the extreme highs and resistance level.

As the daily chart shows, the last time price tested this level we got a bearish engulfing bar and price sold off back lower.

This level looks key for this market and where price makes its next move.

If we can see price make a new break higher, then the trend could look to continue and start forming new long trading opportunities.